Taxes have always been one of the hardest things to do, whether you’re running your own business or not. Particularly if you don’t have any experience in accounting or finance. Tax-related issues can be overwhelming, especially when your whole day is full of things to be done. In the event that you do not have the budget to hire an accountant, making it your own can be dangerous. If you miss one detail and you don’t know it, you may have to do it all over again!
Almost everyone wants to avoid this step. But since it’s required to be done, we can’t choose not to.
What is the best way to deal with it?
We can make life easier by using tools like TaxJar.
This article will take a look at this well-known life-saving tool and explain how it can benefit you. While this is lengthy it is possible to assess whether TaxJar is exactly what you need right now.
Are you looking video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
But for those who prefer to read, we’ll dive right into.
What is TaxJar? Using And Canceling TaxJar
The company was founded in 2013 TaxJar is an application that automatizes your reporting, filings and sales tax calculation. It is a solution for all aspects of your sales tax cycle. Additionally, you can use it across all the sales channels you use to ensure compliance with sales tax requirements. It simplifies the processes that can take days to complete, and can be completed in a matter of only a few minutes.
TaxJar has been utilized in a variety of industries, including food and beverage companies, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is extensively used by online business owners to keep everything neat and simple. Let’s take a look at their features and services.
Features and services
One of the first things you’ll want to check is that your accounting tax system perfectly integrates along with sales funnels. If you have multiple sales channels, you need to maintain everything in line. The final thing you would like is to get a penalty for not paying attention to a minor thing.
TaxJar allows you to show your key data in one location. That way, there’s no need to gather data in multiple channels and organize it into one platform. All you need to do is connect TaxJar and the platform will do all the rest.
In addition, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list of platforms they are able to integrate with:
TaxJar allows clients to submit their sales tax by hand or using their AutoFile feature. For our review we’ll take a look at both.
If you choose to go it alone, TaxJar will allow you to connect all of your sales platforms. When it comes time to filing income tax returns The team will guide you on how to manage them. But, it is up to you and your staff to complete everything within the timeframe. TaxJar will only provide guidance on what you have to do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit any forms manually. With this feature, everything will be automated, from calculating sales taxes in order to record and process them. However, there might be additional costs if the feature is not included in the plan you select.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to assist you with your accounting issues. The orders you place through your online channels can be combined into a single dashboard via this platform. Once you’re on the platform you and your team can access everything you need, like a list of your transactions, reports, as well as the data.
The best part about the feature you’ve chosen is it lets you to update your account automatically each day. Not only can they help you keep track of how much you’ve earned and how much you’ve earned, but they also let you keep track of when the next payments are due.
The dashboard allows users to view in detail the overall sales taxes in your business. You can also export the data in a CSV file if you need it for your process of financial planning and accounting or if your team requires it for centralized reporting.
Streamlining and Training
TaxJar helps you organize and keep the track of all the channels you sell through. That means you won’t have to hunt for your paperwork when you’re in the event of a need. Even if you already have your accounting firm, the feature can aid them in being more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance will help you plan your funds more effectively. You’ll know better how much budget you have available for other operational costs.
But what’s even better is that TaxJar offers training and tutorials, not just for their platform but for anything connected to sales tax. Check out their webinars, guides as well as their blog to find more details. Apart from that the sales tax calculator is beneficial when you’re planning to complete everything yourself.
How much does TaxJar cost?
We understand how important it is to determine your budget. Certain platforms have amazing features, but they’re sometimes too expensive for businesses. This is why in this section, we’ll look into TaxJar’s pricing levels and what each of those plans can offer. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan starts at $19. They say it’s the best plan if you need help in filing and reporting. It comes with sales tax reporting, 4 annual AutoFiles for free, as well as a CSV import. With the starter plan, you will be able to access their AI tax tips.
If you’re a smaller business owner, this plan should be perfect for you. It may not have all the features of TaxJar but it comes with the essentials that you need.
You can also contact the support team via their support chart for email. You’ll also be able to use their integration tools.
If you’re looking for something different from the basic features and options, then the Professional plan may be the best option for you. The price starts at $99 but you can increase it if you add custom features.
So how different is it from the starter plan?
In addition to having access to every one of Starter plan’s features, you also get access to their phone customer support, API access, and the ability to do advanced CSV import. You can also have 12 free AutoFiles each year.
If you run a large enterprise, you may want to go for premium plans instead. It includes all of the features needed to aid in your tax preparation. In addition, they offer unlimited integrations with data imports Integrations with APIs, teams of users, and AutoFiles.
There is also a team that is devoted for managing the account. However, they don’t disclose the price of the Premium plan. will cost you. Using And Canceling TaxJar
However, they did say that this plan is customized for every user. So the costs will vary in line with what you require for your company.
It’s a good thing that you don’t have to bet your life on it to find out if the platform is for you. If you’re still considering various options, they provide a 30-day free trial. This should be enough time to gauge whether the software is a good fit for you.
Pros and Pros and
We’ve covered everything you need to be aware of TaxJar let’s take a break. To summarize we’ll go over the pros and cons of making use of TaxJar for your company.
- Has the Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Provides an online sales tax calculator
- Support service team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It is possible to integrate it with other platforms.
- Allows you to track multiple sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only applicable to USA customers
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything clearly laid out, TaxJar can be a great platform companies that have numerous sales channels, and that utilizes many platforms. If that sounds like what you do, then you ought to try this.
It’s not just a way to assist you in keeping track of the sales and profits of your business however, it will also help you meet your deadlines. It’s also an excellent opportunity for accountants since they have tax Advisor program. There are tips to follow and get knowledge from their seminars on taxes by using it.
Utilizing TaxJar can help you reduce time and keep on top of each deadline and obligation you have to meet. If you live in a region with a lot of tax regulations, this will surely help you wrap your mind around it. Using And Canceling TaxJar
But if handling taxes is easy, then TaxJar might not be a good investment. If you only have one or two channels of sales, TaxJar won’t be needed to keep track of all of it. In addition, if you’re finding the entire procedure simple to follow then you’re better off doing it on your own.
FAQ Using And Canceling TaxJar
What areas does TaxJar offer API assistance?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify together with TaxJar?
Yes. You can sync your Shopify account to TaxJar for easier monitoring and updates.
Are there any ways to exchange one type of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. The transaction amounts are n US$. If you’re using a different currency, you’ll have to convert it to US$ before TaxJar can calculate the tax.